Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The purpose of a marketing plan is to review market changes and to go over and define the product or service the organization plans to

The purpose of a marketing plan is to review market changes and to go over and define the product or service the organization plans to launch. Communication strategies will be important during the entire process. Positioning including the statement that defines the product in the market and the benefit to the consumers. You will be able to figure out the cost to the organization, which will be things such as cost of materials including backup supplies, pricing for your consumers.
The organization will also be able to identify your competition. Competition strategies include strengths and weaknesses and position the new product against the competitor's product. The organization will be able to develop competitive promotions through advertising and show distribution strategies. It will touch base on the fulfillment, packaging and distribution outlets including international. The market plan will give a guideline schedule including measuring metrics and success. Public relations will touch base on strategy and execution, schedules and speaking engagements.
The chief marketing officer will ultimately be responsible for the marketing plan. The job of the office is to align marketing activities with the company's vision, mission, and strategic business objectives. The plan should ultimately be able to be viewed by all parties. This would include employees of both upper and lower-level management, marketing employees, potential investors and board members.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Successful Time Management

Authors: Patrick Forsyth

1st Edition

0749486198, 978-0749486198

More Books

Students also viewed these General Management questions

Question

3. How has e-commerce transformed marketing?

Answered: 1 week ago